CRUCIAL funding for the Guildford Institute – a centre of cultural, artistic and historic learning – has been axed.

The move means the institute in Ward Street faces an uncertain future and may have to drastically cut back on the number of courses it offers.

This week the University of Surrey confirmed it was pulling out of its long association with the Guildford Institute which was founded in 1834.

Since 1980, the link has seen the university provide an average of £30,000 a year to a programme called Courses for Guildford.

Seventeen years ago, the university also handed over a £200,000 interest free loan to the institute.

In the last 10 years, the university estimates its support of the Guildford Institute at around £500,000.

As part of the severance package, the university will write off “a substantial amount of the debts owed” by the institute.

Liz Markwell, administrator at the Guildford Institute, said the university’s withdrawal will leave a significant gap in funding.

“It’s time for the Guildford Institute to establish its own financial future,” she explained. “The university has put a lot of money into the institute in the past but there isn’t that sort of money floating around any more.

“The university has its own priorities and as a trust the Guildford Institute is exploring a number of future options.”

The University of Surrey has run part-time courses out of the institute alongside the other activities the centre has, such as lectures, art exhibitions library and archive.

Vice Chancellor of the University of Surrey, Christopher Snowden, stressed severing the links with the institute did not mean the end of the campus offering learning to the community.

“It is clear that with annual operating costs that are significantly higher than the membership and commercial room rental incomes, the institute must change its financial model to ensure continued viability,” he added.

“We recognise, and take very seriously, our role as Guildford’s university in providing educational opportunities to all members of our community.

“As such we are keen to ensure that the way in which we achieve this is extended further to benefit more people within the area.

“We are still willing to explore options with the institute that would meet this priority for the university.

“However, it is important for the Guildford Institute that any future plans are financially viable and provide a sustainable operating model for the future.”

Mrs Markwell described the Guildford Institute as one of the town’s hidden gems, which needed public support more than ever.

“We do need more people to get involved with the institute,” she added.

“If we can’t replace the money we have had from the university, we would have to cut back on what we do and perhaps just use a smaller part of the building.

“That would be a real shame as what we have to offer is not just educational – it’s social and recreational as well.”